Imax’s first-quarter results showed signs of the movie industry’s rebound from the depths of Covid-19 a year ago, and the numbers met Wall Street analysts’ expectations.Net losses per share narrowed to 25 cents in the quarter, from 82 cents a year ago, better than analysts’ consensus for 26 cents.
Total revenue rose 11% to $38.8 million, a hair lower than the Street’s forecast for $39 million.Box office receipts in Imax venues showed their first year-to-year quarterly increase since the start of the pandemic, reaching $110 million globally.Addressing analysts on the company’s earnings call, CEO Rich Gelfond continued to highlight Imax’s competitive advantages in the media landscape.
Read more on deadline.com